Benzinga | Jul 28, 2021 08:37AM EDT

EXCLUSIVE: KULR Tech Receives Special Permit From US Dept. Of Transportation Authorizing Transport Of Damaged Batteries

* The U.S. Department of Transportation (DoT) has issued a special permit to KULR Technology Group Inc (NYSE:KULR) authorizing the transportation of damaged, defective, or recalled lithium-ion cells, batteries, or lithium metal cells contained in or packed with KULR's Thermal Runaway Shield (TRS) packaging.

* KULR is a provider of lithium-ion battery safety and thermal management technologies.

* The permit marks an essential strategic step for KULR, as it pushes its Thermal Runaway Shield as an integrated solution for efficient battery systems, increased sustainability, and end-of-life battery management.

* Various government testing authorities have proven the Company's solutions to stop or mitigate the impacts of dangerous lithium-ion battery failures known as thermal runaway, which can occur during the transportation of batteries.

* In 2019, the Company provided NASA with a solution to protect laptop computer battery packs aboard the International Space Station.

* Price Action: KULR shares closed at $2.02 on Tuesday.